We are very excited to be able to announce the pre-alpha release of our new service – Etheroll.com – a Ðapp (de-centralized application) that executes a smart-contract on the Ethereum network to provide a gambling experience for its users.
Etheroll.com is a game of chance. It is based on a simple game of ‘high’ or ‘low’.
Players are prompted to pick a number between 1-100, along with a bet that they are willing to wager.
Our fully transparent, and audit-able smart-contract then returns a truly random number between 1-100.
Winners are paid when their number is within the resulting range, either low (50 and below) or high (51 and higher). Each betting round takes about 1 minute to complete – based on the speed of the Ethereum blockchain.
The odds are calculated to give the house an edge of 2%. with full transparency because all die rolls, results and earnings statistics are verifiable using the blockchain.
The Ðapp is provably fair, in the sense that we provide the sha3 seeds prior to and after each betting round. Proving we did not and cannot (thanks to sha3 encryption) change the seed, simply due to the fundamental way in which the Ethereum Blockchain operates.
We are very excited to be running our Ðapp on the testnet version of Ethereum for pre-alpha phase user testing before releasing it onto the livenet during the ‘go-live’ phase of the release.